Friday, January 27, 2017

Vinebox

I found the statistics in the most recent case around Millennial wine drinking to be fascinating and poked around online to find some more data. What I learned? Millennials consumed more than 40% of wine in the US in 2015 (more than both Boomers and Gen-Xers). They are also willing to spend more on wine: 17% of Millennials bought a bottle costing over $20 in the past month, compared with 10% of all drinkers. They're interested in experimenting with both varietals and regions: relative to other age groups, Millennials are more willing to buy from countries like Chile, Argentina, and South Africa and are less likely to buy wines from California.

Millennials often purchase wine in chains like Trader Joe's and Costco and are increasingly turning to direct-to-consumer channels like Minibar or even subscription services like Tasting Room by Lot 18 or Winc. And, as we learned on Thursday, they share thoughts on what they're drinking using apps like Vivino and Delectable. 

And yet, while Millennials seem to be interested in wine, I think many of us still find it challenging to learn through tasting. Specifically, though an article on Vivino listing "10 New Zealand Sauvignon Blancs for Your Thanksgiving" may be directionally helpful, I would rather try a few sips of each NZ wine with tasting notes to learn what I like. So where does this leave me? I might buy a couple half-bottles instead of full ones, or I might invest in a Coravin, but both options are pricey and likely leave me with more wine (and fewer varietals) than I want.

Relatively new on the market is Vinebox, which calls itself "the world's first wine by the glass club" that attempts to solve this issue. The startup launched last fall and ships small tube-shaped vials of wine (each is equivalent to a glass) sourced from boutique wineries across Europe. Each month, a subscriber receives 3 vials of wine with notes, pairings, and stories behind each wine. The wine can last up to 3 years in the vials. Vinebox's clean, streamlined website features a 20-something wearing jeans and holding a glass of red wine: they certainly seem to be targeting the market of young adults looking to learn more about wine and to feel in a way like they're being transported to Italy, France, or Spain in the process. Business Insider calls it "the perfect way for people to get into wines" and a subscription sells for ~$30/month depending on length. 



What do you guys think? Is this something you'd buy?

*Sources: Fortune, Forbes, TechCrunch, VINEBOX.com

2 comments:

  1. Hey Kate, interesting find! I would definitely buy this as a one time purchase gift, especially with the clever wine+chocolate pairing offered on the site. One thing I'm not sure about is their target market. In general, millenials are more price sensitive and less likely to care about quality. The downside of this business is that I buy wine because it's easily shareable and affordable. These vials, though, are single serving and at ~$10/glass (~$40/bottle), they're not too cheap. In the long run, I'm not sure that "wine by the glass" will catch on because it treats wine as a commodity, disregarding the social nature of the product.

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  2. This is fascinating! Thanks for sharing. I would probably buy this for myself, but would be more inclined to buy it for others as a gift.

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